The development of Photovoltaic

Energy from photovoltaic sources is clearly showing all its strength and competitiveness overcoming traditional sources.

Just consider that the new photovoltaic capacity installed annually in the world exceeds the overall capacity of new installations of traditional fossil sources and nuclear.

It is estimated that the total installed photovoltaic power will reach 1TW in 2022.
In Europe, the share of energy covered by photovoltaics today is 5% but with very large growth prospects (15% by 2030).

Data of the market

The total global PV capacity installed by the end of 2018 was slightly more than 500 GW (it was around 400 GW in 2017 and 300 GW in 2016). More in details, in 2018, around 109 GW have been installed globally, of which more than 44GW in China, 11.7 GW in the US (+6%) and 11 GW in Europe (+20%).
For the next few years analysts estimate a double-digit growth (which in absolute terms could be around 120 GW by 2020). China is expected to have 40-50 GW installed per year until 2022, in order to reduce CO2 emissions in the country.

Solar as a real energy source

There are many countries that are looking at solar as the real energy source on which to base future investments.
There are many solutions to limit the use of fossil fuels as much as possible.

The European market

The photovoltaic situation in Europe is quite fragmented. The major players in the market in countries where there has been an incentive program are mainly utilities.
Italy on this is an exception, below are the percentages for installations for the various sectors:

» 26% of residential buildings;
» 18% commercial;
» 20% industrial;
» 36% utility.

Despite the remarkable growth rates of recent years, there is still a long way to go for solar and renewables in general.
The share of energy produced from renewable sources has reached only 12.1% of the global total in 2017.

Development factors

The growth of photovoltaics in Europe will be boosted by the following factors:
» the regulatory objectives set by the Commission and the interventions of the individual states;
» by public tenders that have supported or replaced pure incentive schemes in many countries;
» from “self-consumption” plants, being a valid system to reduce energy costs.

The development of Photovoltaic was last modified: December 23rd, 2019 by Team VP Solar